Hmmm, all of that is incorrect. And Milt Sparks, and his successors, have traded on that false tale since then to this very day; which formed a small part of my suit against the company for unfair competition (now ended by a technicality; fair enough, that's how the game is played).
The true story is revealed by Elmer's description of the project in "Hell I Was There" and the auction of his estate a few years back. Elmer had this holster by Chic Gaylord -- notice it already has a hammer protector -- for his 44 but not being a Threepersons with welt, Elmer's pistol tended to fall out when he leaned over. Image is from the estate auction:
Attachment 300895
Elmer also had several Bucheimer versions of the Hank Sloan holster, which also already had the hammer guard. Sloan's was a true Threepersons with welt; his patent was of his improvement over the Threepersons welt which, over time, would lose its grip on the frame. So the uppermost end of the welt was left unstitched and secured by a tee-nut and screw, so that the welt could be repostioned to get back the grip on the frame.
Milt went to Elmer, who he had flown on hunts, hoping to get him interested in promoting his leather flight bags; and told Elmer he was thinking of getting into the holster business. This was early 1970s, having worked as a sewing machine operator for Eubanks; which is where another myth began that Milt had been building under his own name prior to meeting Keith (it was the end of Andy Anderson from an earthquake and then strokes, that was Milt's entrée into the holster biz, using copies).
Elmer, no dummy, saw an opportunity: here is a man who wants to make holsters, and so Elmer had Milt combine the two holsters, by incorporating the Sloan patented welt into the unpatented Gaylord holster. Elmer's personal version had a welt up the forward fold, for his high front sights.
Attachment 300896 this is an exemplar of the Sloan and not from the aucton
Attachment 300897 Sloans from the auction
Elmer also said he had Milt copy a Boyt rifle scabbard that he loved but was out of production (also in the auction).
Neither man got permission from Hank Sloan to build the Sparks version; and Hank's patent was still in force. No worries, problem solved, Hank died within a few years.
From there, the legend began that Milt had permission from Sloan (discovery in the lawsuit showed that to be false), that Milt had added the hammer guard to protect suit linings (also false, both the Gaylord and the Sloan already had the hammer guard).
Phil, I wish I'd realised you'd been mates with Jim at Sparks all this time whilst my suit was active; I would have been less forthcoming with you.